TAXPAYERS will have to pay back £832m for key developments at an Oxford hospital which cost just £134m to build, it has emerged.

The John Radcliffe is one of more than 100 hospitals across the UK which use cash from investors as part of a private finance initiative (PFI) to fund work.

Trusts pay it back with interest over a period of 30 to 40 years.

By 2037, taxpayers will have forked out £832m to pay for the new West Wing and Children’s Hospital, the Government confirmed.

Oxford Radcliffe Hospitals Trust yesterday insisted the scheme provided excellent value for money.

Ian Humphries, director of estates and facilities, said: “Our PFI does not just represent repayment for the actual buildings. We have a guarantee over the next 30 years that the buildings and fixed equipment within them are kept to the highest possible standards.

“In addition, it includes all the costs associated with providing portering, cleaning and catering for the John Radcliffe site as a whole.

“We are immensely proud that along with NHS funding and public support we can have world class services provided in world class facilities for the people of Oxfordshire and beyond for many years to come.”